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Monday, March 10, 2014 5:12:38 PM
Keep in mind JPM has made around 60 billion of unjust enrichment off of the stolen enterprise since 10/2008. In the thick of things 25 billion will be a very nominal amount for getting caught stealing a 350 billion dollar organization that proves crimes do indeed pay!
This means of the 25 billion or so for every dollar, 75 cents goes to former preferred which is WAMKQ and WAMPQ and twenty five cents goes to former common or WAMUQ.
As far as the former Piers or WAHUQ they will get up to their capped amount of $10.51 a share and could be less depending on the ultimate outcome of this travesty. They will NEVER SEE ESCROW SHARES.
I will post the Goulding document who is the WMI Treasurer
http://www.kccllc.net/wamu/document/0812229120213000000000024
See pdf page 17 of 36 with reference below. This reference though is to an Opinion dated 1/3/12, conveniently filed as confidential.
Section 1123(b)(4). Pursuant to the Seventh Amended Plan and Global Settlement
Agreement, the Debtors are conveying or otherwise transferring certain assets to
JPMC. This transfer does not constitute a sale of all or substantially all of the
Debtors’ property. See Opinion, dated January 3, 2012 [Adv. No. 10-50911,
D.I. 312] at 26 (stating that the Global Settlement Agreement “is not a sale of substantially all the assets of WMI.”)
The following directly from the Plan of Reorganization of Washington Mutual's Bankruptcy
1.33 Assets: With respect to a Debtor, (i) all “property” of such Debtor’s estate, as defined in section 541 of the Bankruptcy Code, including, without limitation, such property as is reflected on such Debtor’s books and records as of the date of the Disclosure Statement Order (including, without limitation, received and anticipated “Net Tax Refunds,” as defined in the Global Settlement Agreement) and certain Plan Contribution Assets transferred to such Debtor pursuant to the Global Settlement Agreement, unless modified pursuant to the Plan or a Final Order, and except as transferred pursuant to the Global settlement Agreement and (ii) all claims and causes of action, and any subsequent proceeds thereof, that have been or may be commenced by such Debtor in Possession or other authorized representative for the benefit of such Debtor’s estate, unless modified pursuant to the Plan or a Final Order, including, without limitation, any claim or cause of action pursuant to chapter 5 of the Bankruptcy Code
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